depends on number of product lines – is the number of different products a company makes (Apple – Nano, touch, shuffle, iPhone, iPad etc…)

Product line depth

is the different versions of each product that are produced (iPhone 5/6, 3G/4, 8mb, 16mb etc…)

Define Branding

A name, term, symbol or design which is intended to signify the goods or services of one seller and to differentiate them from those of competitors (Kotler)

establishing an identity for a product that distinguishes from its competitors

What are the key elements of a brand?

– Brand Message – the message that the org wishes to communicate to the customer about the qualities of the product-
– Brand Name – that part of a brand that can be spoken
– Brand Mark – the element of the brand not made up of words [image]
– Brand Identity – how the company sees itself and the product
– Brand Image – how outsiders see the organisation and its products
– Brand Message – the message that the org wishes to communicate to the customer about the qualities of the product

Protection of contents from damage and deterioration
Provision of product information [communications]
Promotion of corporate identity [Branding]
Forms part of the sale promotion
Adds to the appeal of the product

Product Life Cycle

The stages through which goods and services move from the time they are introduced on the market until they are taken off the market.

-Costs reduced due to economies of scale*
-Sales volume increases significantly
-Profitability
-Good Public awareness
-Competition begins to increase with a few new players in establishing market
-Prices set to maximize market share

Mature stage

-Costs are very low as you are well established in market & no need for publicity
-Sales volume peaks
-Increase in competitive offerings [more competitors on the market
-Prices tend to drop due to the proliferation of increase in competing products
-Brand differentiation, feature diversification, as each player seeks to differentiate from competition with “how much product” is offered
-Very profitable

Using the PLC, specify what stage a product is at within an industry on its life cycle and explain why? ( i.e. Apple iPad, Kindle, etc.) Draw product life cycle and indicate at what stage you feel the p
roduct highlighted in the exam is at and WHY